01:38 PM EST, 11/06/2024 (MT Newswires) -- Cencora ( COR ) said Wednesday it agreed to acquire Retina Consultants of America from private equity firm Webster Equity Partners for about $4.6 billion in cash, as the drug distributor looks to broaden its physician and manufacturer relationships.

Retina Consultants is a management services organization of retina specialists. It has around 300 specialists across 23 US states offering care to patients, with physicians conducting more than 2 million visits each year, Cencora ( COR ) said.

"Following our recent investment in OneOncology, the addition of (Retina Consultants) will allow us to expand our (management services organization) solutions," Cencora ( COR ) Chief Executive Bob Mauch said in a statement.

The company's shares were up 5.4% in Wednesday afternoon trade.

"With additional resources to support the continued execution of our growth strategy, we will be better positioned to continue expanding our physician network and enhancing the quality of care we provide," said Retina Consultants CEO Robby Grabow.

Upon the deal's completion, Cencora ( COR ) will hold roughly 85% ownership in Retina Consultants. Retina Consultants' affiliated practices, physicians and management will retain a minority stake in the business. Cencora ( COR ) said it will potentially pay up to $500 million in its fiscal 2027 and 2028, subject to the completion of certain targets.

The company expects the acquisition to be roughly $0.35 accretive to its adjusted per-share earnings for its first 12 months, net of estimated financing costs.

Separately, Cencora ( COR ) reported that its fiscal fourth-quarter adjusted EPS jumped to $3.34 from $2.86 a year earlier, while revenue rose 15% to $79.05 billion. Analysts polled by Capital IQ were looking for $3.23 and $77.72 billion, respectively.

For fiscal 2025, the company projects adjusted EPS at $14.80 to $15.10 versus Wall Street's $14.77 view, while adjusted revenue growth is pegged at 7% to 9%.

Cencora ( COR ) said its board increased its quarterly dividend to $0.55 a share from $0.51, payable Nov. 29 to stockholders of record at the close of business Nov. 15.

Price: 246.11, Change: +12.12, Percent Change: +5.18